Ethereum (ETH) Price Prediction: ETH Could Soar by 15% to Reach the $2,815 Level

72.27% of Binance traders are going long on the ETHUSDT pair. ETH could soar by 15% to reach the $2,815 level if ETH stays above the $2,330 level.

The majority of Binance traders, at 72.27%, are betting on the long position in the ETHUSDT pair, indicating their optimism about an upcoming price increase.

In contrast, only 27.73% of traders are holding short positions, anticipating a price decrease.

According to technical analysis, ETH is positioned for a potential surge, supported by an ascending trendline and upward momentum.

If ETH remains above the $2,330 level, it could soar by 15% to reach the $2,815 level, as suggested by historical price movements.

However, a doji candle at the support level has shifted the sentiment from a downtrend to an uptrend, and the RSI indicates an oversold condition, suggesting a possible price reversal.

Despite the bullish outlook, ETH’s future open interest has declined, indicating weaker trader conviction and hesitation to open new positions.

At press time, Ether is valued at around $2,415, with a slight price decrease of 0.45% in the past 24 hours. Its trading volume has also decreased by 38%.

While trader sentiment is mixed, whales have been accumulating ETH following a recent 10% price drop. On October 3, 2024, they acquired nearly 28,120 ETH, valued at $66 million.

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